MIRA INFORM REPORT
|
Report No. : |
329233 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NATHANI PAREKH CONSTRUCTIONS PRIVATE LIMITED |
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Registered
Office : |
C/O, Sterling Exports, 1st Floor, Rangoonwala Building, 91, Mohammedali
Road, Mumbai – 400003, Maharashtra |
|
Tel. No.: |
91-22-23453333 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.07.2006 |
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Com. Reg. No.: |
11-163227 |
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Capital Investment
/ Paid-up Capital : |
Rs.25.492 Million |
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CIN No.: [Company Identification
No.] |
U45201MH2006PTC163227 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13998F |
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PAN No.: [Permanent Account No.] |
AACCN3320K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged into construction activities. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 360000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established private limited company incorporated in the year 2006, having moderate track. Company is engaged into construction business and it current under construction projects are Nathani Willington View known as Saboowala which is expected to be completed by March 2016. And another is Nathani Heights known as dalal Estate in Mumbai Central. Rating remain constrained on account of company's moderate financial risk profile marked by leverage balance sheet and working capital intensive nature of construction business. However, trade relations are fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Proposed long term bank facilities: BB- |
|
Rating Explanation |
Inadequate credit quality and high credit risk (Withdrawn) |
|
Date |
17.06.2014 |
Reason for withdrawal: Company has not avail bank facilities to CARE.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Vijendra |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-22-40463333 |
|
Date : |
26.06.2015 |
LOCATIONS
|
Registered Office : |
C/O, Sterling Exports, 1st Floor, Rangoonwala Building, 91,
Mohammedali Road, Mumbai – 400003, Maharashtra, India |
|
Tel. No.: |
91-22-23453333 |
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Fax No.: |
91- 22-23453377 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sabir Yasin Nirban |
|
Designation : |
Director |
|
Address : |
292, 2nd Floor, Abdul Rehman Street, Mumba - 400003,
Maharashtra, India |
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Date of Birth/Age : |
09.05.1966 |
|
Date of Appointment : |
01.10.2012 |
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DIN No.: |
00228611 |
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Name : |
Mr. Abdul Hamid Abdul Majid Nathani |
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Designation : |
Director |
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Address : |
Flat No.312, 31st Floor, Kalpataru Heights, Dr. A L Nair
Road, Near Agripada Police Station, Mumbai - 400011, Maharashtra, India |
|
Date of Birth/Age : |
04.02.1968 |
|
Date of Appointment : |
24.07.2006 |
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DIN No.: |
00246084 |
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Name : |
Mr. Maqsood Abdul Majid Nathani |
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Designation : |
Director |
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Address : |
801/802, United Crystal, Meghraj Sethi Marg, Opposite Baby
Garden, Agripada, Mumbai - 400008, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1972 |
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Date of Appointment : |
24.07.2006 |
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DIN No.: |
00246129 |
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Name : |
Mr. Abdulrashid Abdul Majid Nathani |
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Designation : |
Director |
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Address : |
22/B, Belvedre Court, Opposite Police Station, Sane Guruji
Marg Agripada, Mumbai - 400011, Maharashtra, India |
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Date of Birth/Age : |
20.05.1969 |
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Date of Appointment : |
24.07.2006 |
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DIN No.: |
00603725 |
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|
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Name : |
Mr. Abdulmajid Haji Mohammed Nathani |
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Designation : |
Director |
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Address : |
701, Shamrock Apptartment, 7th Floor, Opposite Baby, Garden,
Agripada,, Mumbai, 400008, Maharashtra, India |
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Date of Birth/Age : |
23.09.1940 |
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Date of Appointment : |
24.07.2006 |
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DIN No.: |
01388847 |
|
Name : |
Mr. Nadeem Kassam Supariwala |
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Designation : |
Director |
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Address : |
Firdaus Co-Operative Housing Society, 3rd Floor, Flat No.
8, 10 Motilabai Street, Agripada, Mumbai - 400011, Maharashtra, India |
|
Date of Birth/Age : |
13.02.1974 |
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Date of Appointment : |
24.07.2006 |
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DIN No.: |
01515016 |
|
Name : |
Mr. Aasif Kassam Supariwala |
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Designation : |
Director |
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Address : |
10, Mottibai Street, Firdaus Appartment, 3rd Floor,
Agripada, Mumbai, Mumbai - 400011, Maharashtra, India |
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Date of Birth/Age : |
08.07.1957 |
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Date of Appointment : |
24.07.2006 |
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DIN No.: |
01670275 |
KEY EXECUTIVES
|
Name : |
Mr. Vijendra |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Maqsood Abdul Majid Nathani |
356000 |
13.97 |
|
Abdul Hamid Abdul Majid Nathani |
565000 |
22.16 |
|
Abdulmajid Haji Mohammed Nathani |
256000 |
10.04 |
|
Abdulrashid Abdul Majid Nathani |
356000 |
13.97 |
|
Nadeem Kassam Supariwala |
408150 |
16.01 |
|
Aasif Kassam Supariwala |
438000 |
17.18 |
|
Nasreen Aasif Kassam Supariwala |
170050 |
6.67 |
|
Total |
2549200 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into construction activities. |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
Indian Overseas Bank, Fort Branch, Tamarind House, 30 and 32, Tamarind Lane, Fort, Mumbai - 400023, Maharashtra, India
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Facilities : |
(Rs.
In Million)
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Banking
Relations : |
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Financial Institute: |
Dewan Housing Finance Corporation Limited, Warden House
2nd Floorsir P M Road, Fort, Mumbai - 400001, Maharashtra, India |
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Auditors : |
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|
Name : |
Umesh M Bhat and Company Chartered Accountant |
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Address : |
201, Rehman House, Nadirshah Sukhia Street, Off. Cawasji Patel Street,
Fort, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-32460681/40024897/28923964 |
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Mobile No.: |
91-9820624897 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACPB9074F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2549200 |
Equity Shares |
Rs.10/- each |
Rs. 25.492
Million |
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|
|
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
25.492 |
25.492 |
25.492 |
|
(b) Reserves & Surplus |
101.830 |
101.830 |
100.093 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
127.322 |
127.322 |
125.585 |
|
|
|
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|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1111.314 |
832.400 |
3.433 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1111.314 |
832.400 |
3.433 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
621.495 |
274.780 |
346.898 |
|
(b) Trade payables |
283.558 |
247.725 |
30.628 |
|
(c) Other current liabilities |
7.207 |
8.251 |
160.418 |
|
(d) Short-term provisions |
20.347 |
8.058 |
8.041 |
|
Total
Current Liabilities (4) |
932.607 |
538.814 |
545.985 |
|
|
|
|
|
|
TOTAL |
2171.243 |
1498.536 |
675.003 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
13.414 |
9.388 |
5.133 |
|
(ii) Intangible Assets |
0.009 |
0.015 |
0.025 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.225 |
2.710 |
2.196 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
16.648 |
12.113 |
7.354 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1822.049 |
1115.200 |
652.867 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
32.936 |
25.659 |
12.000 |
|
(e) Short-term loans and
advances |
299.610 |
345.564 |
2.782 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2154.595 |
1486.423 |
667.649 |
|
|
|
|
|
|
TOTAL |
2171.243 |
1498.536 |
675.003 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
13.61 |
8.70 |
2.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31 |
2.76 |
1.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
25.492 |
25.492 |
25.492 |
|
Reserves & Surplus |
100.093 |
101.830 |
101.830 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
125.585 |
127.322 |
127.322 |
|
|
|
|
|
|
long-term borrowings |
3.433 |
832.400 |
1111.314 |
|
Short term borrowings |
346.898 |
274.780 |
621.495 |
|
Total
borrowings |
350.331 |
1107.180 |
1732.809 |
|
Debt/Equity
ratio |
2.790 |
8.696 |
13.610 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
No |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF
OPERATION
The company has commenced its prestigious project at Mumbai Central. Contract for civil works has been awarded to GAMMON INDIA LIMITED along with BROOKEFIELD (Australia) for joint consultancy. Apart from this leading consultants have also been appointed for the completing project in time.
No Profit and Loss Account is prepared as no revenue has been generated. However the Saboowala project has completed more than 25 % of the WIP of the estimated cost of the project, hence income of Rs. 10.000 Million on estimated basis is offered for tax. The saboowala project is most likely to complete by 31.03.2016.
The status of the project is as follows;
NATHANI HEIGHTS KNOWN
AS DALAL ESTATE (Mumbai Central)
This is one of the biggest projects of the company in South Mumbai.
Apart from housing the existing tenants there would be residential units, commercial shopping complex, parking lots, etc. in a very high rise building, till 31.03.2014 the plinth level, basement as well as three storeys has been completed.
NATHANI WILLINGTON
VIEW KNOWN AS SABOOWALA
Work has completed about 50% of the estimated project cost and the project is likely to be completed by March, 2016. Overall the company is expected to take advantage of the firming in the property rates in south Mumbai.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT TERM
BORROWING |
|
|
|
Loans and Advance from directors and shareholders repayable on demand |
|
|
|
Abdul Hamid Abdul Majid Nathani |
5.358 |
4.464 |
|
Abdulrashid Abdul Majid Nathani |
2.356 |
2.291 |
|
Maqsood Abdul Majid Nathani |
1.921 |
1.857 |
|
Nadeem Kassam Supariwala |
2.211 |
2.170 |
|
Loans and advance from directors and shareholders |
|
|
|
Aasif Kassam Supariwala |
198.951 |
197.808 |
|
Abdul Hamid Abdul Majid Nathani |
69.235 |
64.235 |
|
Abdulmajid Haji Mohammed Nathani |
4.100 |
4.100 |
|
Abdulrashid Abdul Majid Nathani |
6.900 |
6.900 |
|
Maqsood Abdul Majid Nathani |
13.750 |
7.750 |
|
Nadeem Kassam Supariwala |
295.363 |
(16.795) |
|
Aromatan Cosmetics Private Limited |
21.350 |
0.000 |
|
Total |
621.495 |
274.780 |
|
|
|
|
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10398340 |
29/11/2012 |
1,615,000,000.00 |
DEWAN HOUSING FINANCE CORPORATION LIMITED |
WARDEN HOUSE 2ND FLOORSIR P M ROAD, FORT, MUMBAI, |
B66295114 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
UK Pound |
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.